Smith News make Dutch acquisition
UK newspaper and magazine wholesaler Smith News PLC has acquired Dutch book business, Erasmus Antiquariaat en Boekhandel.
The deal is worth €1.5m, and will see Smiths take over the supplier of high quality books and journals for libraries and Government institutions across Northern Europe.
Smiths’ wholly owned book business Bertram Books will make the acquisition as part of its international expansion programme.
Bertram will gain entry into the US market and increases sales to £50m on a pro forma basis.
Mark Cashmore, Chief Executive Officer of Smiths News PLC, said: “We are delighted to have completed another strategic bolt-on acquisition, which is an excellent addition to our books business.
“Erasmus extends our Northern European academic business and accelerates our expansion plans. The Group will benefit from an increase in scale and a stronger sales presence in Northern Europe.”